"This Republic Day, we hope to have a friend over... Invited President Obama to be the 1st US President to grace the occasion as Chief Guest," Modi tweeted.

Confirming Obama's acceptance, the Press Secretary on the President's Travel in a statement said, "At the invitation of Prime Minister Modi, the President will travel to India in January 2015 to participate in the Indian Republic Day celebration in New Delhi as the Chief Guest.”

"This visit will mark the first time a US president will have the honor of attending Republic Day, which commemorates the adoption of India's Constitution,” the statement said.

"The President will meet with the Prime Minister and Indian officials to strengthen and expand the US-India strategic partnership," the statement stated.

Modi visited US in September and enthralled Americans and the Indian American community. Prime Minister Narendra Modi's US visit marked a new direction in strengthening of Indo-US ties.

In a four day visit to US, Modi not only met Obama, but also sought to invite investment from prominent CEOs and urged the Indian-American community to take up a greater role in the development of India.

Obama also had hosted a rare private dinner for Modi at the White House on September 29.

Modi was welcomed by Obama who greeted him in Gujarati, "Kem Chho?" (how are you?), the mother tongue of the Prime Minister.

During his maiden US visit PM Modi has addressed more than 18,000 NRIs and Indian American community at Madison Square Garden in New York.

Recently during G20 Summit in Australia, Modi had a brief interaction with Obama in which the US President called the Indian Prime Minister a "man of action".

Modi and Obama met each other for the second time in six weeks at a Gala Dinner in Myanmar capital after the President played host to the Prime Minister at the White house in Washington in the last week of September.